First Business News Portal in English from Nepal
KATHMANDU: The government has reduced the size of the budget for the ongoing fiscal year by Rs 86 billion. Finance Minister Janardhan Sharma reviewed the budget for the current fiscal year and reduced the size of the budget on Thursday.
Initially, the government had introduced Rs 1.62 trillion budget for 2021-22 fiscal year. However, the government downsized the budget following its failure to expedite budget expenditure.
Finance Minister Sharma informed that only Rs 1.546 trillion budget would be spent in the current fiscal year. Sharma also claimed that capital expenditure could not be accelerated as the budget for this year was brought without enough homework.
Despite sluggish budget spending, Minister Sharma claimed that the country would achieve seven percent economic growth in the current fiscal year.
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